Netflix adds 8.8 million new subscribers but its stock drops

The global subscriber additions show that Netflix "is far from peak int'l net additions". The company said it expects to add another 8.9m new paid subs in the first quarter of 2019.

The streaming giant posted revenue of US$4.19 billion in the period, compared with a US$4.21 billion projection from analysts.

Fueling this growth was a huge increase in paid subscribers.

"In the United States, we earn around 10 percent of television screen time", Hastings said, explaining that Netflix streams 100 million hours a day to TV screens in the USA, accounting for "billions" of hours a daily.

Netflix calculated its TV marketshare by estimating 120 million homes watch a billion hours of TV every day in the U.S. Meanwhile, Netflix says its service streams 100 million hours of content every day on average.

Netflix IncNFLX.O forecast first-quarter revenue slightly below Wall Street estimates on Thursday, even after a record quarter for new customers, sending shares of the world's largest streaming service down 4 percent in after-hours trading.

Netflix announced a hike in its subscription fees. Netflix's cheapest plan rose from USD 8 to USD 9, the standard increased from USD 11 to USD 13, and the 4K Premium plan jumped from USD 14 to USD 16.

"We deeply regret that this happened and sincerely apologise to anyone who was offended, especially the victims and their families", the company said.

Wedbush has one of the most bearish outlooks on Netflix of any Wall Street shop.

Netflix, for its part, noted that since launching its unscripted strategy two years ago, Netflix Originals like Tidying Up with Marie Kondo (pictured) account for a substantial chunk of unscripted view share on the platform.

The analyst predicted operating profit margins for Netflix will rise through 2019 and end the year at around the midteens percentage level. But this is the first time that higher prices will hit all 58 million USA subscribers, the number Netflix reported at the end of September. They maintained their "underperform" rating, and raised their 12-month price-target from $150 to $165 a share.

Netflix seems less concerned about the upcoming launch of Walt Disney's subscription service or a similar service from AT&T's WarnerMedia and more focused on the popularity of "Fortnite" the video game.

This marks the fourth price increase that Netflix has rolled out in the US.

In the letter, Netflix took time to big up its successes - Bird Box, which it estimates will be watched by 80 million households within four weeks of its release, and a Spanish-language exclusive, Elite, that has attracted more than 20 million.

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